https://www.taxtmi.com/caselaws?id=397406 The Appeal challenging the denial of interim relief to the Corporate Debtor for the invocation of a performance guarantee was dismissed as time-barred by the Tribunal. Despite arguments of delay due to non-receipt of a certified copy of the Order, the Tribunal emphasized the strict timelines under the Insolvency and Bankruptcy Code, citing relevant case law. Additionally, the Tribunal upheld the decision regarding the invocation of the performance bank guarantee, clarifying that it does not constitute security interest under the Code, and that the moratorium order does not extend to sureties in guarantee contracts with the Corporate Debtor. en-us Mon, 13 Jul 2020 00:00:00 +0530 Sat, 31 Oct 2020 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397406 The Appeal challenging the denial of interim relief to the Corporate Debtor for the invocation of a performance guarantee was dismissed as time-barred by the Tribunal. Despite arguments of delay due to non-receipt of a certified copy of the Order, the Tribunal emphasized the strict timelines under the Insolvency and Bankruptcy Code, citing relevant case law. Additionally, the Tribunal upheld the decision regarding the invocation of the performance bank guarantee, clarifying that it does not constitute security interest under the Code, and that the moratorium order does not extend to sureties in guarantee contracts with the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Mon, 13 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397406